Reserve Bank of India (RBI) has stated in a monthly update that overall financial conditions remained benign in October and November (up to 21st), primarily due to easing in the equity and corporate bond markets. System liquidity remained in surplus during the second half of October and November (up to 21st), though temporary increases in government cash balances and a rise in currency-in-circulation due to festival-related demand led to some episodes of liquidity deficit in the second half of October. Overall, average net absorption under the liquidity adjustment facility increased marginally to Rs 1.3 lakh crore during October 16 to November 21, from Rs 1.0 lakh crore in the preceding one-month period, supported by CRR cuts.

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